New Zealand Gazette – 2000 – No. 83

Page 1976

✨ Financial Statements



1976 NEW ZEALAND GAZETTE No. 83

WAIPA NETWORKS LIMITED - LINES BUSINESS

2000 $ 1999 $
3 TAXATION

Net surplus before taxation | 3,374,695 | 3,963,366 |
Prima facie taxation at 33% | 1,113,649 | 1,307,911 |
Plus Tax effect of permanent differences | 370,610 | - |
Less Tax effect of timing differences not Recognised | (321,304) | (345,978) |
Total Taxation Expense | 1,162,955 | 961,933 |

The Taxation charge comprises:

  • current taxation | 1,162,955 | 961,933 |
  • deferred taxation | - | -

| | 1,162,955 | 961,933 |

A deferred tax liability of $2,785,106 (1999 $2,518,597), has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.

Imputation credit memorandum account
Balance at the beginning of the year | 1,062,991 | 448,128 |
Dividends Allocated | (1,095,156) | (517,540) |
Taxation paid | 938,378 | 1,132,403 |
Balance at end of year | 906,213 | 1,062,991 |

4 SHARE CAPITAL

Balance at beginning of year | 8,000,000 | 8,000,000 |
Capital Distribution | 8,000,000 | -

Balance at end of year | - | 8,000,000 |

At 31 March 2000 the line business has issued 8,000,000 shares. The original paid-up capital has been returned to the shareholder in full.
All shares carry equal voting rights and the right to share in any surplus on winding up of the company. None of the shares carries fixed dividend rights.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 83


Gazette.govt.nz — PDF NZ Gazette 2000, No 83




✨ LLM interpretation of page content

🏭 Notes to Financial Statements for Waipa Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2000
Financial Statements, Taxation, Imputation Credit, Share Capital, Waipa Networks Limited